Homebuilders in recession-struck Bakersfield, California, have turned into landlords, renting their units while they wait for the housing market to rebound.
Developers are trying to weather the economic storm by turning their quick-profit intentions into rentable moneymakers.
"Mr. Lantz, who owns a commercial-development firm, found himself stuck with land he couldn't sell, so he made the unusual choice to build 53 homes. Instead of selling them, he's waiting out the downturn by renting them for between $1,150 and $1,350 per month.
Construction financing wasn't available–most lenders are hesitant to fund any new residential projects–so Mr. Lantz and his partners are paying about $85,000 to build each unit. Half the homes are done and construction should be finished this fall, reports trade publication builderonline.com."
FULL STORY: For Bakersfield Builder, Rentals Are ‘Cutting-Edge’ Solution
The Pandemic Effect: Landlord Edition
A new survey highlights the impact of the COVID-19 crisis on small landlords, who provide much of the nation's low-cost rental housing.
Effort to Rid Apartments of Lead Poisoning Risk Pushes Forward in Philadelphia
It’s been a tough slog for a bill designed to force landlords to remove lead from all buildings before they can charge tenants for rent.
Missouri Law Would Ban Protections for Housing Voucher Users
A state law seeks to overturn source-of-income discrimination bans passed by several Missouri cities.
Rethinking Redlining
For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Walmart Announces Nationwide EV Charging Network
The company plans to install electric car chargers at most of its stores by 2030.
More Than a Park: A Safe Haven for Generations in LA’s Chinatown
Alpine Recreation Center serves as a vital cultural and community hub in Los Angeles' Chinatown, offering a safe, welcoming space for generations of Chinese American residents to gather, connect, and thrive amidst rapid urban change.
New Trail Project Enhances Safety and Access to Rocky Flats National Wildlife Refuge
Jefferson County is improving safe access to Rocky Flats National Wildlife Refuge with new trails, a bridge, and signage, as part of the Rocky Mountain Greenway project, ensuring environmental safety and educating visitors about the site’s history.
Wisconsin Awarded $12 Million for Brownfield Redevelopment Amid Broader EPA Budget Cuts
The EPA provided the funding to Wisconsin for brownfield cleanups in cities like Milwaukee and Racine, even as broader agency budget cuts under the Trump administration raise concerns about future environmental protection capacity.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Clovis
City of Moorpark
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions